Moody’s predicts more oil cuts

Companies will struggle next year, too, it says

By Robert Grattan, Houston Chronicle

September 16, 2015Updated: September 16, 2015 8:10pm

Photo: Bloomberg News File Photo

Tug boats transport the Chevron Corp. Jack St. Malo semi-submersible drilling and production platform to the Gulf of Mexico from Ingleside. Moody’s forecasts that integrated companies such as Chevron will need to sell $40 billion to $60 billion in assets to protect their balance sheets during 2015-16.

Tug boats transport the Chevron Corp. Jack St. Malo...

Low oil prices probably will force another round of cuts from the drilling budgets of global integrated oil companies next year, Moody’s Investors Service said in an analysis Wednesday.

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